South Africa 28.2.2014 12:15 pm

AA predicts hefty fuel price hike

Image courtesy Freerangestock.com

Image courtesy Freerangestock.com

South African consumers could face yet another fuel price increase in March, the Automobile Association said on Friday.

This was because of strong international crude oil prices, which “had overpowered the appreciating rand”, it said in a statement.

“The Central Energy Fund data is currently suggesting a fuel price hike of up to 34c per litre for petrol, 26c per litre for diesel and 16c per litre for illuminating paraffin.”

There was little chance of either a surge in the rand’s strength or a retreat in international oil prices.

“Unfortunately, we expect the fuel price increase for March to be in the region of the current numbers.”

Sapa

 

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